S&P Commercial Development, a company specialising in project development, has been awarded the mandate for the revitalisation of an office building at Barer Straße 7–9 in Munich. The client is the insurance group die Bayerische, which recently became a new shareholder in S&P Commercial Development. This project marks the first operational collaboration between the two companies and gives concrete form to their previously announced strategic partnership.
The existing building, dating from the 1960s, will undergo extensive modernisation. Following the completion of the refurbishment work, the property will boast a gross floor area of approximately 13,684 sqm. The objective of these measures is to transform it into a high-quality and sustainable office location. The international commercial law firm Noerr, which had originally considered relocating, has been secured for a long-term lease agreement at Barer Straße. As part of this agreement, Noerr will expand its office space to approximately 10,453 sqm, thus becoming the anchor tenant of the revitalised building.
The revitalisation includes a redesign of the façade and a high-quality interior fit-out. Furthermore, an extension of the attic storey is planned, which will enlarge the existing setback storey. This extension will integrate a modern congress and conference area of approximately 600 sqm. This area will comprise flexible event and meeting spaces, as well as a spacious roof terrace of around 500 sqm. In total, this area is intended to accommodate up to 350 people. A cafeteria on the ground floor and modern employee lounges will complement the usage concept.
As part of this project development, S&P Commercial Development is striving for a comprehensive upgrade of the building with regard to sustainability aspects. A DGNB Gold certification for the refurbishment is being pursued. Construction is scheduled to commence at the beginning of 2027, with completion anticipated by the end of 2028. The property is located in Munich's Maxvorstadt, an established area characterised by its proximity to cultural and scientific institutions, as well as excellent public transport links and an urban environment.
Judith Lechermann, CIO of die Bayerische, stated that the targeted investment in the revitalisation of the property serves the future viability of their real estate portfolio. She emphasised that the renewed long-term commitment of tenant Noerr confirms the attractiveness of the location and the concept, and that they are delighted to collaborate with S&P Commercial Development as an experienced development partner. Sven Sontowski, Managing Partner of S&P Commercial Development, highlighted that Barer Straße combines an excellent inner-city location with development potential. He explained that the goal is to develop the existing building from the 1960s into a future-proof office location and that they are pleased with this first mandate for die Bayerische, which brings the partnership to life operationally.
As a full-service partner, S&P Commercial Development is undertaking all project development tasks for this project. This includes strategic concept development, supporting planning and approval processes, through to the realisation and marketing of the spaces. The company has successfully expanded its Service Development division in recent years. To date, nine projects with a total gross floor area of over 180,000 sqm have either been completed or are currently under development.
